Protection from debt slavery: as will now be issued microloans



From July 1 began to operate changes in the micro-Finance companies. Now the maximum rate of MFI on the loan shall not exceed 1% per day, or 365% per annum.

As new rules for issuing loans will protect Russians in the Studio of TV channel “MIR 24” said the lawyer Alim of Bichenov.

Alim of Bichenov: Definitely, can help protect. I would not consider such amendments as a panacea because the problem is much deeper than it seems at first glance. Simply limit the maximum amount people should pay – this is not the right solution.

Alim of Bichenov: Not to say that the instrumentation counter was not at all. As a practicing lawyer, I, defending the interests of the principal, to request reduction of the penalty or the penalty. I mean, that “there was nothing, and suddenly appeared” is not our story. Another issue is that these amendments can be very useful, because the issues associated with microfinance organizations – in the worst sense of the word trend. With increasing intensity in the absence of serious regulation, a lot of business and money in circulation. For the scammers this tidbit.